Wsp Holdings Limited (NYSE: WH) reported Q2 EPS of $0.73, $0.05 worse than the analyst estimate of $0.78. Revenue for the quarter came in at $435 million versus the consensus estimate of $494.36 million.

• Revenues increased 31% compared with second quarter 2017, to $435 million.
• Net income was $21 million for the second quarter; adjusted net income was $73 million, a 43% increase over the prior-year quarter.
• Diluted earnings per share were $0.21 and adjusted diluted EPS were $0.73.
• Further Adjusted diluted EPS (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.86, above our projection of $0.79 to $0.84.
• Adjusted EBITDA increased 19% compared with the prior-year quarter, to $125 million.
• Further Adjusted EBITDA was $159 million, consistent with our projection of $150 to $160 million.
• Global RevPAR increased 9% year-over-year and 4% in constant currency and excluding our 2018 acquisitions and divestitures.
• System-wide rooms grew 12% year-over-year, and 3% excluding our 2018 acquisitions and divestitures.

"Our team\s sharp focus on executing against our strategic and operating plans allowed us to deliver solid growth, in line with our prior projections, in our initial quarter as an independent public company" said Geoffrey A. Ballotti, chief executive officer. "We also continued to strengthen our presence in the midscale hotel segment with the addition of the La Quinta brand and its over 900 hotels in May."

Outlook

The Company provided the following outlook, which assumes that its spin-off and the acquisition and integration of La Quinta had all been completed on January 1, 2018, for full-year 2018:

• Further Adjusted revenues of $1.99 billion to $2.04 billion.
• Further Adjusted net income of $300 million to $320 million.
• Further Adjusted EBITDA of $590 million to $610 million.
• Further Adjusted diluted EPS of $2.98 to $3.18, based on a Further Adjusted diluted share count of 100.6 million, which excludes future share repurchases.
• Rooms growth of 11% to 13%, or 2% to 4% excluding our 2018 acquisitions and divestitures.
• Constant-currency RevPAR growth of 7% to 8%, or approximately 3% excluding our 2018 acquisitions and divestitures.

GUIDANCE:

Wsp Holdings Limited sees Q3 2013 revenue of $1.99-2.04 billion.

For earnings history and earnings-related data on Wsp Holdings Limited (WH) click here.